Powered by a 75 percent gain since May 1, the operator of Thailand’s main international airports also passed the 1 trillion baht ($31 billion) market capitalization mark, joining only state-controlled energy company PTT Pcl above that milestone. Shares of Airports of Thailand jumped 9.2 percent in December — rallying for a 10th consecutive month — as government data showed international tourists in November jumped 23 percent.

The stock’s surge was by far the best performer in Bloomberg’s Asia-Pacific Infrastructure Top Peers gauge, with Shanghai International Airport Co. a distant second at 29 percent in the same period. Airports of Thailand gained 4.4 percent in the first two trading sessions of 2018.